With our newest major update, B2BINPAY is taking your crypto business to the next level. The 21st iteration of our all-in-one crypto ecosystem boasts an exciting array of new features and enhancements to add even more value for our clients.
From expanding blockchain support for stablecoins to introducing new security features, this update is all about making our platform more cost-efficient, secure, and powerful than ever before.
Let's break down all the game-changing enhancements in detail.
Expanded Blockchain Support
In this update, we're expanding our blockchain support to include two popular networks: Algorand and Solana!
Solana
Solana is a blockchain platform launched in 2020 by Solana Labs. It utilizes a unique Proof-of-History consensus algorithm, making the network incredibly fast and efficient. In fact, Solana today is the fastest large blockchain, achieving an impressive average of 1,504 transactions per second — this is 46 times faster than Ethereum.
- Market Cap: $61.8B
- 24-hour Trading Volume: $2.4B
Algorand
Algorand is a blockchain platform that aims to improve other blockchains’ limitations. It was launched in 2019 by MIT professor Silvio Micali. Algorand uses a consensus mechanism called Pure Proof of Stake (PPoS) that randomly selects validators weighted by their staked ALGO coin.
- Market Cap: $1.0B
- 24-hour Trading Volume: $23M
USDT & USDC on Solana and Algorand
We see the growing business demand for seamless and cheap transactions with USDT and USDC. That’s why we are now supporting these stablecoins on newly added networks! Both chains offer native USDT & USDC support, with the massive benefit of extra low commission fees.
This brings the number of supported networks to 9 for USDT and 10 for USDC within the B2BINPAY ecosystem!
Stablecoin Transactions on Solana
Solana boasts incredibly low gas fees, thanks to its “Sealevel” parallel execution architecture. At the time of writing, the average transaction fee on Solana is around 0.000014 SOL (or $0,00189). In contrast, the average transaction fee on Ethereum hovers close to $1.7. This makes transferring stablecoins on Solana nearly 900 times more fee-efficient compared to its competitor.
- Solana-native USDT Supply: $1.8B
- Solana-native USDC Supply: $2.5B
Stablecoin Transactions on Algorand
Algorand boasts a minimum fee of just 0.001 ALGO (or $0.0001), no matter how complex the transaction is. In stark contrast, Ethereum fees fluctuate based on network congestion and operation complexity, often reaching tens or even hundreds of dollars during peak times.
As of the time of writing, Algorand’s fees are 17,000 times cheaper than Ethereum’s average fees, making the Algo network one of the most cost-efficient choices for stablecoin transactions.
- Algorand-native USDT Supply: $13.0M
- Algorand-native USDC Supply: $94.0M
With these integrations, we significantly reduce our clients’ financial burdens. You can now process stablecoins at a fraction of the cost of other major chains like TRON and Ethereum!
Better Security with TX Address Whitelist
Security is a top priority for us at B2BINPAY. That’s why, in the v21 update, we added new functionality—TX Address Whitelist—to the existing two-factor authentication (2FA) and IP whitelist!
This feature will help you to stop browser viruses from meddling with destination addresses after a copy-and-paste procedure when transferring funds.
Plus, it's not only about safety! TX Address Whitelist makes your transactions easier — it helps you quickly transfer to trusted blockchain addresses without any additional confirmation. The system will ignore any checks for transaction limits or user role restrictions.
Important Note: We still maintain the highest AML & KYC procedures. The TX Address Whitelist is simply an extra layer of protection for your transactions.
You have two options for using the new feature:
- Wallet Whitelist: Create a list of trusted addresses exclusively for one wallet.
- Blockchain Whitelist: Set up a single list of trusted addresses for all wallets & currencies on a blockchain. This option is exceptionally convenient for large businesses with multiple wallets.
The TX Address Whitelist feature is fully customizable, giving you central control. It will make updating and maintaining your trusted address list easy and convenient.
Advanced Role Management with Access List Tab
Managing access to your wallets is much easier with our new Access List Tab. This feature lets you effectively manage user roles and their wallet accesses.
How does it work? The Access List Tab shows a comprehensive overview of all staff users linked to your business and their personal information. You can easily assign roles to users to enable or disable wallet access for them. The tab also displays API accesses separately from staff roles.
The Access List Tab makes managing roles within your organization easy. It ensures that only the right users can withdraw funds.
Enhanced Control over Your Finances with Wallet Thresholds
Considering clients’ suggestions, we introduce a brand new feature: Wallet Thresholds! This feature will allow you to set an upper limit for auto-withdrawals, reducing fraud risks and preventing unauthorized transactions.
From now on, to withdraw amounts beyond the preset threshold, specific user roles, like Owner or Admin, must give their approval. The new function adds a crucial layer of oversight and control to all operations in your financial organization.
The Wallet Thresholds feature has three unique settings:
- Approval Request: Sets the amount that needs extra approval from specific users.
- Approval Request 2FA: Limits the amount requiring additional two-factor authentication for confirmation.
- Max Sum of Payouts per Timeframe: Sets the total withdrawal amount a user/user-group can make within a specified time period.
Additionally, you can set individual thresholds for different users or groups according to your business needs. And, for centralized control, the 'Owner' user gets exclusive access to all available features.
Ultimate Support Experience with Zendesk
We understand that seamless communication and information access are crucial for businesses. Thus, B2BINPAY is bringing you an enhanced support experience through Zendesk.
With our new client portal you can easily find all the necessary information about our platform's significant functionalities and guidelines.
The new Zendesk integration creates a one-stop hub for all your support needs, from Helpdesk with tickets to a comprehensive knowledge base!
Conclusion
We're focused on expanding our services even further to better meet the needs of businesses in the cryptocurrency space. We aim to make B2BINPAY an ultimate and reliable platform for all your digital asset activities.
Stay connected with us for future updates and announcements!
